LONDON – The global market for smart motors almost hit the USD 990 million mark as of 2014. The marketplace is set to be driven by a number of factors, such as grow at a CAGR of approximately 6.2 percent in the years to come to reach USD 1.38 billion by early 2020.

The industrial sector represented the biggest application segment in 2014. It is expected to hold the largest share in the years to come, as well.

South and North America and APAC are the most prominent markets. The Americas were the most powerful market player in 2014. Being the second largest player in 2014, APAC is forecast to surpass the American marketplace over the next few years.

Growth in application fields of smart motors and an increasing scope in the industrial sector are some of major opportunities for the smart motors marketplace.

Moog, Technosoft SA, Robeteq and Fuji Electric are amongst the largest companies involved in the market activity.

In-demand market research study “Smart Motors Market by Component, by Application and Geography - Analysis & Forecast to 2020” drawn up by M&M offers a detailed overview of the global smart motors marketplace. The report provides a 360-degree overview of the market. It limelights market drivers and restraints, canvasses market opportunities and challenges. The study looks at industry trends and analyses the market by application fields and covers regional markets. The research study explores the competitive environment and contains precise profiles of top companies. Market development forecast through 2020 is on hand in the report too.